IMF rules chief didn't abuse power
WASHINGTON - The head of the International Monetary Fund will remain in his job after the agency's executive board concluded there is no cause for dismissal over an extramarital relationship.
The IMF board issued a statement late yesterday saying that the actions of IMF managing director Dominique Strauss-Kahn were "regrettable and reflected a serious error of judgment."
The 24-member board of directors decided in a unanimous decision Strauss-Kahn's relationship with the former IMF employee was consensual and did not involve any type of sexual harassment, favoritism, or abuse of authority by the director. Strauss-Kahn had a brief affair with Piroska Nagy, who worked in the IMF's Africa department as a senior economist until taking a buyout in August.